Senior Commercial Real Estate Underwriter (Multifamily Capital)
Type: Full Time
Salary: $150,000 - $225,000
2 openings available.
Internal Number: R-219967
At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.
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About this role:
Wells Fargo is seeking a Senior Affordable Housing Underwriter within Multifamily Capital. In coordination with our relationship management and closing teams, this professional will be responsible for underwriting the largest and most complex affordable housing loan requests. Learn more about our career areas and lines of business at wellsfargojobs.com.
In this role, you will:
Maintain a comprehensive knowledge and understanding of Freddie Mac and Fannie Mae multifamily underwriting guidelines and requirements, with specific focus on affordable housing programs
Build and maintain strong relationship with various partners both throughout Multifamily Capital and, more broadly, the Wells Fargo Commercial Real Estate (CRE) business line as well as our GSE partners
Perform property inspections
Analyze credit of tenants and borrowers
Coordinate with the loan closing team throughout the negotiation process
Make recommendations to credit for prospective loans
Serve as a leader and industry expert on the team, sharing best practices and expertise with more junior team members
Review third party reports including appraisals, environmental reports (phase I and II), and engineering reports
Work closely with Community Lending and Investment (CLI) on transactions wherein the groups partner
Work closely with WF Construction Monitoring group to process and close loans on rehabilitations and new construction
Collaborate and consult with Commercial Real Estate Underwriting peers, colleagues, and mid level to more experienced managers to resolve issues and achieve goals
Pay Range: $150,000 - $225,000
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation, and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Locations: New York NY; Irvine, CA; Minneapolis, MN; McLean, VA; Dallas, TX; Bethesda, MD; San Francisco, CA
4+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
4+ years of Commercial Real Estate industry experience
Extensive knowledge and understanding of underwriting multifamily transactions
Experience underwriting Fannie Mae and Freddie Mac multifamily affordable loans
Proficient in Microsoft excel
Strong analytical skills with high attention to detail and accuracy
Excellent verbal, written, and interpersonal communication skills
Ability to interact with all levels of an organization
Ability to work effectively, as well as independently, in a team environment
We’re strong for our customers and communities
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.92 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852, and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance through more than 7,200 locations, more than 13,000 ATMs, the internet (wellsfargo.com), and mobile banking and has offices in 31 countries and territories to support customers who conduct business in the global economy.
Wells Fargo serves one in three households in the United States.
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Additional information may be found at wellsfargo.com?Twitter: @WellsFargo